Swiss FMIA (FinfraG) Reporting Solution

Summary of the regulation

Article 104 of the Swiss Financial Market Infrastructure Act makes a provision for firms with a registered office in Switzerland to report details of their derivatives transactions to a trade repository authorised by the Swiss Financial Market Supervisory Authority (FINMA).

Both over-the-counter and exchange-traded derivatives across all asset classes need to be reported by T+1, as well as daily valuations for open trades.

The reporting obligation is single-sided, with only one counterparty to the trade needing to report (this will generally be the financial counterparty, or the larger party if the trade is between two financial counterparties).

How UnaVista can help you with Swiss FMIA (FinfraG) Reporting

The SIX Securities Services Trade Repository

To address the needs of firms with a FinfraG derivatives reporting obligation, UnaVista partnered with SIX Securities Services to provide the technology for a fully hosted trade repository solution, operated and maintained by SIX.
Based on our award-winning EMIR trade repository platform, the SIX trade repository is entirely hosted (including data storage) in Switzerland. For more information about the SIX trade repository and how to report, please visit their webpage here.

The UnaVista G20 Reporting solution – one single interface for your global derivatives reporting requirements

Firms with reporting obligations in multiple jurisdictions including FinfraG can use the UnaVista G20 Reporting solution to fulfil their reporting obligations under these multiple jurisdictions efficiently, using a single format for reporting.

The UnaVista G20 Reporting solution offers users the following possibilities:

  • Save resources when conforming to multiple different data requirements. UnaVista offers a reporting format with no more than 150 fields for all asset classes across all reporting jurisdictions.
  • Streamline your operational processes, with the reporting infrastructure for multiple jurisdictions accessible via one interface
  • Maintain a single gateway with UnaVista, for onwards routing to trade/data repositories worldwide

The UnaVista G20 Reporting solution can be today used for reporting under FinfraG, EMIR, MAS, the Bank of Israel, ASIC and other reporting jurisdictions. A highly configurable software solution, it can be deployed alongside our suite of Rules Engine software capabilities to reformat, enrich, and transform data as required should firms require assistance transforming the data into the required format for the destination

UnaVista G20 Reporting Data Flows

                                                                                                                                                                                                                                                                                                                                                                                                                                       Benefit from our regulatory reporting experience

As a highly regulated entity itself, the London Stock Exchange Group already undertakes regulatory reporting on its own behalf. On top of this, we also operate the UK’s largest MiFID ARM, and an award-winning EMIR trade repository. We bring this regulatory expertise to bear in our excellent reputation for compliance, security, and thorough analysis of reporting requirements, resulting in reliable, efficient products and services.
Our products don’t just meet regulatory requirements – they exceed them, reducing the risk of incorrect, late or duplicate reporting.

Save the cost of middleware

You can submit reports in any structured format, UnaVista’s advanced technology then ingests the data, displays that data in a unified way for manipulation and then disseminates that information to regulators or counterparties in the desired format. This reduces the need for expensive middleware.

Have a system with smart validation

UnaVista does all the mandatory validation you would expect. But it also validates the data by checking it against the reference data sources you choose, such as ESMA’s list of regulated markets, MiFID eligible securities and the London Stock Exchange’s SEDOL Masterfile where appropriate. UnaVista offers a whole suite of exception management tools to manage records that have failed validation.

Improve your operational processes

You can set different levels of access for individuals or groups, so people only see the information you want them to see. You can also set as many mandatory audit steps as you like. As a result, you’ll know that the right checks are in place. You’ll also have a full audit trail if you need to check back over things at a later date.

Reconciliations - be confident you have been compliant

Regulatory authorities encourage firms to regularly review the integrity of their transaction reporting to ensure they have been successfully submitted. UnaVista assists with this process by enabling firms to reconcile between their own back-office data, the data held by UnaVista and the data held trade repository thus enabling firms reduce regulatory and operational risk.

Know what’s happening in your business at all times

You can receive alerts based on your custom tolerances and thresholds for things like transaction volumes or transaction size. This ensures you are never surprised late or by a problem of which you were unaware.

Get the management information you need

You can use UnaVista to monitor trends within your reporting, helping you identify where errors are recurring. You can use UnaVista to take a snapshot of all your transactions at any time, choose from a variety of report templates, or create your own custom report. You can even include a variety of charts from the customisable dashboards.

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